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<br />SUBORDINATION AGREEMENT
<br />
<br />NOTICE; THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY
<br />INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER
<br />PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECUIR TY
<br />INSTRUMENT.
<br />
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<br />
<br />THIS AGREEMENT, made this 12th day of September, 2006, by Victor M. and
<br />Gina A. Henriquez, husband and wife, owners of the land hereinafter described and
<br />hereinafter referred to as "Owner", and Country Wide Mortgage, present owner and
<br />holder of the Deed of Trust and Note first and hereinafter described and hereinafter
<br />referred to as "Beneficiary".
<br />
<br />WITNESSETH:
<br />
<br />THAT, WHEREAS, Victor M. and Gina A. Henriquez, married persons, DID
<br />EXECUTE a Deed of Trust dated December 31, 2002 to the City of Grand Island,
<br />covenng:
<br />
<br />Lot Nine (9), Lincoln View Estates Subdivision in the City Of Grand
<br />Island, Hall County, Nebraska.
<br />
<br />To secure a Note in the sum of $12,500.00 and $9,000 dated December 31, 2002 in favor
<br />of the City of Grand Island, which Deed of Trust was recorded December 31, 2002 as
<br />Document No. 200214703 and Document No. 200214704 in the Official Register of
<br />Deeds Office of Hall County (remaining amount owed as of August 31, 2006 is
<br />$16,916.64); and
<br />
<br />WHEREAS, Owner has executed, or are about to execute, a Deed of Trust and
<br />Note in the sum of$69,975.00 September 12,2006 in favor of Wells Fargo, hereinafter
<br />referred to as "Beneficiary" payable with interest and upon the terms and conditions
<br />described therein, which Deed of Trust is to be recorded concurrently herewith; and
<br />
<br />IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS
<br />SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR
<br />ATTORNEYS WITH RESPECT THERETO.
<br />
<br />WHEREAS, it is a condition precedent to obtaining said loan that said Deed of
<br />Trust last above mentioned shall unconditionally be and remain at all times a lien or
<br />charge upon the land hereinbefore described, prior and superior to the lien or charge of
<br />the Deed of Trust first above mentioned; and
<br />
<br />WHEREAS, Beneficiary is willing to make said loan, provided the Deed of Trust
<br />securing the same is a lien or charge upon the above-described property prior and
<br />superior to the lien or charge of the Deed of Trust first above mentioned and provided
<br />that Beneficiary will specifically and unconditionally subordinate the lien or charge of the
<br />Deed of Trust first above mentioned to the lien or charge of the Deed of Trust in favor of
<br />Beneficiary; and
<br />
<br />WHEREAS, it is to the mutual benefit of the parties hereto that Beneficiary make
<br />such loan to Owners; and Beneficiary is willing that the Deed of Trust securing the same
<br />shall, when recorded constitute a lien or charge upon said land which is unconditionally
<br />prior and superior to the lien or charge ofthe Deed of Trust first above mentioned.
<br />
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